Boeing Company (BA)

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Boeing Slides on Report of Emergency Landing for Cargo Plane in Hawaii
By: TheStreet | July 2, 2021

• CNBC reports Friday that a 737 cargo plane was forced to execute an emergency landing on water near the coast of Honolulu.

Boeing (BA) shares slipped lower Friday amid reports that one of its cargo planes executed an emergency landing in the Pacific ocean off the coast of Hawaii.

CNBC reported Friday that the 737 cargo plane, operating as Transair, experienced engine trouble shortly after its takeoff in Honolulu, and was forced to turn around before executing an emergency landing procedure near the Hawaiian coast. The Federal Aviation Administration confirmed the crash, noting that the two pilots had been rescued.

Boeing's flagship 737 MAX passenger aircraft was involved in two fatal accidents over a six month span between 2018 and 2019 linked to it flight navigation system and was eventually grounded by transportation authorities around the wo

Boeing shares were marked 2% lower in early trading Friday following reports of the incident to change hands at $235.00 each.

Earlier this week, United Airlines (UAL) said it would buy 50 Boeing 737 Max 8 jets and a further 150 Max 10s, as part of a record $30 billion plane order that also included jets made by European rival Airbus SE (EADSY).

That purchase offset a warning from the FAA over the certification of Boeing's 777x widebody. The FAA cautioned that it can't "realistically" certify the plane until the middle of 2023.

Boeing CEO Dave Calhoun told investors in April that the company "remains focused on executing this comprehensive series of tests to demonstrate the safety and the reliability of the airplane's design, and we're pleased with the progress that we've made to date", adding that Boeing "still anticipates that the first 777X delivery will occur late in 2023."

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